Help me start my new bike shop
#2
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maybe it's just me, but i think i would like to see a bigass window showing some bikes if i were a customer. else, i might think it is a bit... shady? many of the bike shops i've been to are like that, so i might have a skewed pov. just me 2cent. gl man
#3
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What kind of help are they providing?
How many people are on the team? I think it make sense to support them (for exposure/advertising) but they probably won't be a big source of income for you.
How much does better retail space cost? The location won't exactly attract people and it will annoy people getting bicycles in and out of the place.
Would they be buying these bikes through you? Kona seems to provide good value for the money. Jamis too.
How big is Terre Haute? How well do these two shops do there? College students are cheap and many may already have bicycles. If people drive to Terre Haute, some people also drive to Indianapolis.
I'd suggest looking at how well "near-by" bicycle shops in a similar or worse situation are doing.
DePauw has a cycling team, plus they have Little 5 (their version of the Little 500 at IU). We have a rail-trail and other branches that lead to all of the schools here in town (existing or proposed). We will eventually, when it's completed, be on the National Road Heritage Trail, which will cross the state.
I'm looking at retail space on Monday. It isn't an ideal spot, but it's close to campus, near a bar (w00t!), on the same street as the DePauw Nature Park, and is only $350/month, utilities included. I'll also get the first few months free, so I can get established. There's also a bed and breakfast 5 feet from the door, so I think it's a foregone conclusion that I'll rent bikes. The catch is, it's in a basement, and accessible via 4 steps down a somewhat narrow 'alley".
How big is Terre Haute? How well do these two shops do there? College students are cheap and many may already have bicycles. If people drive to Terre Haute, some people also drive to Indianapolis.
I'd suggest looking at how well "near-by" bicycle shops in a similar or worse situation are doing.
Last edited by njkayaker; 10-21-09 at 04:53 PM.
#4
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Location means everything for a business.
Kroger Food Stores study locations for TEN Years before opening a New Store.
Kroger Food Stores study locations for TEN Years before opening a New Store.
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#8
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Locate near a high traffic area such as a Busy Food store.
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You may seriously want to look at the opions you have and take a long look at the economy of the area. I posted earlier today a bike shop in my area closing, It was a large shop with a large customer base but just could not survive the local economy.
As of the census[8] of 2000, there are 185,776 people, with a total urban population of 299,290[9], 76,247 households, and 46,205 families residing in the city.
Winston Salem has been hit hard recently, The job base here is, Tobacco (Lay-off due to government restriction) Furniture (Production moving to China) Textile ( Production moving to China) Dell Computers built a new factory in 2006 after recieving 52 million dollars in incentives from both the state and local governments. Plant closed October 1 2009 ( Production moved to Mexico).
current market and unenployment in the Winston Salem Area,
2009 05 2310.5
2009 06 1810·4
2009 07 1910.2
Just thinking you may need to check out a lot of things about your market before risking your investment.
As of the census[8] of 2000, there are 185,776 people, with a total urban population of 299,290[9], 76,247 households, and 46,205 families residing in the city.
Winston Salem has been hit hard recently, The job base here is, Tobacco (Lay-off due to government restriction) Furniture (Production moving to China) Textile ( Production moving to China) Dell Computers built a new factory in 2006 after recieving 52 million dollars in incentives from both the state and local governments. Plant closed October 1 2009 ( Production moved to Mexico).
current market and unenployment in the Winston Salem Area,
2009 05 2310.5
2009 06 1810·4
2009 07 1910.2
Just thinking you may need to check out a lot of things about your market before risking your investment.
#12
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More demographics
Population in July 2008: 10,145. Population change since 2000: +2.7%
Males: 4,751 (46.8%)
Females: 5,394 (53.2%)
Median resident age: 27.1 years
Indiana median age: 35.2 years
Zip codes: 46135.
Estimated median household income in 2007: $32,646 (it was $29,798 in 2000)
Greencastle: $32,646
Indiana: $47,448
Estimated per capita income in 2007: $17,421
Greencastle: $17,421
Indiana: $23,805
Estimated median house or condo value in 2007: $107,737 (it was $82,700 in 2000)
Greencastle: $107,737
Indiana: $122,900
Mean prices in 2007: All housing units: $135,027; Detached houses: $145,504; Townhouses or other attached units: $120,055; In 2-unit structures: $141,797; In 3-to-4-unit structures: $110,004; In 5-or-more-unit structures: $136,721; Mobile homes: $21,053
Recent home sales, real estate maps, and home value estimator for zip code 46135
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Profiles of local businesses:
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Races in Greencastle:
White Non-Hispanic (93.2%)
Black (2.7%)
Hispanic (1.4%)
Two or more races (1.1%)
Other race (0.7%)
American Indian (0.6%)
2008 cost of living index in Greencastle: 80.2 (low, U.S. average is 100)
Read more: https://www.city-data.com/city/Greenc...#ixzz0UcK8ecvq
Population in July 2008: 10,145. Population change since 2000: +2.7%
Males: 4,751 (46.8%)
Females: 5,394 (53.2%)
Median resident age: 27.1 years
Indiana median age: 35.2 years
Zip codes: 46135.
Estimated median household income in 2007: $32,646 (it was $29,798 in 2000)
Greencastle: $32,646
Indiana: $47,448
Estimated per capita income in 2007: $17,421
Greencastle: $17,421
Indiana: $23,805
Estimated median house or condo value in 2007: $107,737 (it was $82,700 in 2000)
Greencastle: $107,737
Indiana: $122,900
Mean prices in 2007: All housing units: $135,027; Detached houses: $145,504; Townhouses or other attached units: $120,055; In 2-unit structures: $141,797; In 3-to-4-unit structures: $110,004; In 5-or-more-unit structures: $136,721; Mobile homes: $21,053
Recent home sales, real estate maps, and home value estimator for zip code 46135
Greencastle, IN residents, houses, and apartments details
Add your B&M business listing here for free. Over a million visitors/week. Get a huge advantage over your competition
Profiles of local businesses:
Superior Tanning LLC
Races in Greencastle:
White Non-Hispanic (93.2%)
Black (2.7%)
Hispanic (1.4%)
Two or more races (1.1%)
Other race (0.7%)
American Indian (0.6%)
2008 cost of living index in Greencastle: 80.2 (low, U.S. average is 100)
Read more: https://www.city-data.com/city/Greenc...#ixzz0UcK8ecvq
#13
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1.)Keep the place clean.
2.)Make everyone feel welcome.
3.)Forget you have friends.difficult however trust me on this one.That was my biggest problem with so many people I stopped doing work for the general public.All your "buddies" want it free or close to it.
4.)Be ready to make little to nothing for awhile.In addition to maybe picking up a part time job after hours.
Be nice but never forget it is a business.Good luck.
2.)Make everyone feel welcome.
3.)Forget you have friends.difficult however trust me on this one.That was my biggest problem with so many people I stopped doing work for the general public.All your "buddies" want it free or close to it.
4.)Be ready to make little to nothing for awhile.In addition to maybe picking up a part time job after hours.
Be nice but never forget it is a business.Good luck.
#15
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Could you possibly put a rack out front and place bikes you hane for sale in it or some ratty *** on the wall out front also making the roll up door a cover for a real nice glass door and use it for the entrance for your shop.
By the way are you hiring?
I have no tools and only experience on my bikes but I am a blast to hang out with and I do have training in the rental repo game could also run security like tossing the drunk colledge kids!
I say go for it and remember the only place sucess comes before work is in the dictionary! Good luck!
By the way are you hiring?
I have no tools and only experience on my bikes but I am a blast to hang out with and I do have training in the rental repo game could also run security like tossing the drunk colledge kids!
I say go for it and remember the only place sucess comes before work is in the dictionary! Good luck!
#16
aka Phil Jungels
Do you have ANY 1st floor access? Is that garage door going to be yours? If so - make it the entrance.
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#22
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My dad's shop is the only bike specific shop in a town of 60,000. He got lucky I guess. There's sporting goods stores with crap bikes too, but he actually knows what he's doing.
#23
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Near a popular rail-trail? Try renting bikes as well.
#24
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Here is a link to 30th Century Bicycle in Iowa City, IA. Read up on some of their background information. I love their business plan. They bill themselves as a transportation/commuter oriented shop. They have a good mix of new and used bikes. They are using a blog as their main point of contact.
Another shop that does something similar is Longleaf Bicycles out of Wilmington, NC he picked a niche market and his website is also a blog.
The area I live in has 2 bike shops and a crapload of big box retailers. One caters only to high end MTB and Roadies. The other is a bit more family oriented and sells cruisers as well as higher end road and mtb's.
It may take you a while to find you niche but stick with it and follow your dream!
Good luck and let us know how it works out.
Aaron
Another shop that does something similar is Longleaf Bicycles out of Wilmington, NC he picked a niche market and his website is also a blog.
The area I live in has 2 bike shops and a crapload of big box retailers. One caters only to high end MTB and Roadies. The other is a bit more family oriented and sells cruisers as well as higher end road and mtb's.
It may take you a while to find you niche but stick with it and follow your dream!
Good luck and let us know how it works out.
Aaron
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Webshots is bailing out, if you find any of my posts with corrupt picture files and want to see them corrected please let me know. :(
ISO: A late 1980's Giant Iguana MTB frameset (or complete bike) 23" Red with yellow graphics.
"Cycling should be a way of life, not a hobby.
RIDE, YOU FOOL, RIDE!"_Nicodemus
"Steel: nearly a thousand years of metallurgical development
Aluminum: barely a hundred
Which one would you rather have under your butt at 30mph?"_krazygluon
#25
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I would think that most college students are dependent on their parents for tuition and living expenses. If parents pay for private liberal arts undergraduate education, that leaves very little for bicycle purchases. Most students learn that bikes get stolen and beater bikes are the norm. The bike club is different. But that wouldn't be enough to support a local bike shop.